New electronic trading system goes live at NZX

The New Zealand Exchange (NZX) has gone live with Trayport's GlobalVision electronic trading platform.
By None

The New Zealand Exchange (NZX) has gone live with Trayport’s GlobalVision electronic trading platform.

"The delivery of this project on time and on budget is a great milestone for NZX, as well as market participants, who have been heavily involved in rolling out the system over the last eight months," says Stuart Turner, NZX Head of Strategy and Projects.

NZX says market participants took part in training and systems testing to ensure a successful launch.

"It is great to see NZX investing in a modern platform that will enable development of enhanced functionality and comfort around reliability," says John Cobb, co-head of Goldman Sachs JBWere (New Zealand). "The new Trayport system has enabled new functionality, such as a closing algorithm that has been popular with our clients dealing in Australian equities."

GlobalVision will provide the infrastructure for all the NZX Markets in New Zealand, and will also provide the platform for the AXE ECN in Australia.

"The GlobalVision trading system brings us more flexibility and opens up opportunities for our markets," says Mark Weldon, CEO, NZX. "As well as the functional benefits, that can be seen immediately, a key driver of our decision to implement a new trading system was for future development of the NZX Markets. The new system will enable trading across a wider range of market products, unlocking currently untapped potential, such as a derivatives market."